Hello from the other side....

Discussion in 'Introductions' started by BlackMirror2000, 19th Feb, 2018.

Join Australia's most dynamic and respected property investment community
  1. BlackMirror2000

    BlackMirror2000 Member

    Joined:
    19th Feb, 2018
    Posts:
    9
    Location:
    NSW
    Hello all,
    Newbie here!
    My wife and I moved to Singapore 2 years ago to follow career opportunities. Now we're considered "non-resident for tax purposes".
    We have PPOR in NSW which we're trying to sell now. You've guessed it... we didn't prepare anything or know to have prepared anything before we relocated.
    • Yes, we rented our PPOR out when we moved out.
    • Bought it it June 2012.
    • Moved to Singapore in March 2015.
    What the heck is going to happen to us now in terms of CGT? Are we still exempt from it if we refund depreciation claims? Quite confused and tired to be honest from reading all the new laws coming up from left right and centre.

    Thanks in advance for your help.
     
  2. Foxdan

    Foxdan Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    457
    Location:
    Hills district, sydney
    You have a 6yr absent rule where u can rent it and still be exempt from CGT.
    Not sure if the “non resident for tax purposes” changes that.
     
    Jess Peletier likes this.
  3. BlackMirror2000

    BlackMirror2000 Member

    Joined:
    19th Feb, 2018
    Posts:
    9
    Location:
    NSW
    Yeah, that "non-resident" part is what I want to find out. It complicates things.